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The Senate sided with traditional retailers and financially strapped state and local governments Monday by passing a bill that would widely subject online shopping — for many a largely tax-free frontier — to state sales taxes.
Businesses with less than $1 million in online sales would be exempt.
Next thing you know the IRS will be trying to collect sales tax even on the value of free stuff given away on Craigslist because it does have value if it were actually sold therefore technically taxable.
just because the senate passes a bill doesn't make it a done deal.
joined:Dec 10, 2005
considering how hard state governments were hit by the great recession, you know we all really have a duty as business owners to collect and remit this tax
If it passes, it will affect most of my clients, who do more than a million in online sales per year, but only have physical presence in one state.